Trade Agreement (PTA) formation. First, it shapes the nature of forces constraining expansion of Free Trade Agreements (FTAs … played by PTAs in the attainment of global free trade. Initially, tariff binding liberalization leads to Custom Union (CU …) formation in equilibrium but in a way that undermines the pursuit of global free trade. However, further tariff binding …

integration with Turkey in their potential Free Trade Agreement (FTA). Our central model contains foreign direct investment (FDI …-tariff barriers in goods; and (iii) time in trade costs. We innovatively estimate the ad valorem equivalents of the three types of …